REG - Focusrite PLC - Trading Update: Trading in-line with expectations

FocusriteAnnouncement

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RNS Number : 2072X  Focusrite PLC  19 March 2026

Strictly embargoed: 07:00, 19(th) March 2026

 

Focusrite plc

 

("Focusrite", "the Group", or "the Company")

 

Trading Update

 Trading in-line with expectations

Focusrite plc (AIM: TUNE), the global music and audio products group supplying
hardware and software used by professional and amateur musicians and the
entertainment industry, provides the following update on trading ahead of its
results for the 18 month period ended 28 February 2026.

As previously announced, the Group has changed its financial year end from 31
August to 28 February. As a result, the Group's next audited results will
cover the 18 month period to 28 February 2026 and the Company expects to
announce these results in early June 2026.

12 months to 28 February 2026

On a 12 month basis to February 2026, Group revenue is expected to be slightly
ahead of the prior 12 month period at approximately £164 million on a
reported basis, reflecting stable underlying demand across the Group's product
portfolio, with the Group's products consistently occupying top sales rankings
with online resellers.

Gross margins for the period have remained strong and slightly ahead of the
prior 12 months, notwithstanding the impact of tariffs in the US, with the
Group benefiting from continued pricing discipline and strong supply chain
management.  Operating margins are also expected to remain stable reflecting
an ongoing focus on cost control.  As a result the Board expects adjusted
EBITDA* for the 12 months to February 2026 to be in-line with current market
expectations**.

Six months to 28 February 2026

For the six months to 28 February 2026, Group revenue is expected to be
approximately £76 million, representing a decrease of approximately 5% on a
reported basis compared to the six months ended 28 February 2025. As expected,
this reflects a particularly strong comparator for the Content Creation
division in the prior period, which benefitted from stock levels being
increased in the US distribution channel ahead of anticipated tariff
increases, as well as the continued unwinding of inventory levels in the US
distribution channel in the six month period to 28 February 2026.  Audio
Reproduction, including the Martin Audio brand, returned to growth during this
period as markets normalised.

Cash and net debt position

The Group has generated healthy cash flows in the period. Net debt at 28
February 2026 was approximately £9.0 million compared to £10.8 million at 31
August 2025, reflecting improved working capital management and the reduction
of inventory levels following the previously noted increase in US channel
stock ahead of tariff increases.

Commenting on the results, Tim Carroll CEO said:

"While geopolitical developments in the Middle East and macroeconomic
uncertainty continue to create volatility in global markets, the Group has not
experienced any material impact to date.  The situation continues to be
monitored closely.   The agility of our teams and strength of our product
portfolio in combination with strategic actions including the strengthening of
routes to market, selective new product development and careful cost
management give us confidence in the future progress of the Group."

*Adjusted EBITDA comprises operating profit (earnings) adjusted for interest,
taxation, depreciation, amortisation and adjusting items.

** In so far as the Board is aware, as at 19 March 2026, the range of market
forecasts for the 12 month period to 28 February 2026 based on published
sell-side research were for revenue of £165.0 million to £168.1
million and adjusted EBITDA of £23.7 million to £25.3 million. For the
six months to 28 February 2026 the ranges were £77.0 million to £80.1
million for revenue and £9.4 million to £11.0 million for EBITDA.

 

- ends -

 Enquiries:
 Focusrite plc                                           +44 (0) 1494 462246
 Tim Carroll (CEO) / Sally McKone (CFO)
 Investec Bank plc (Nominated Adviser and Joint Broker)  +44 (0) 20 7597 5970
 David Flin / Nick Prowting / James Smith
 Rosewood (Financial PR)                                  +44 (0) 20 7653 8702
 John West / Llewellyn Angus / Lily Pearce

 

Notes to Editors

Focusrite plc is a global audio products group that develops and markets
proprietary hardware and software products. Used by audio professionals and
musicians, its solutions facilitate the high-quality production of recorded
and live sound. The Focusrite Group trades under thirteen established brands:
Focusrite, Focusrite Pro, Novation, Ampify, ADAM Audio, Martin Audio, Optimal
Audio, Linea Research Sequential, Oberheim, Sonnox, OutBoard and TiMax.

With a high-quality reputation and a rich heritage spanning decades, its
brands are category leaders in the music-making and audio recording
industries. Focusrite and Focusrite Pro offer audio interfaces and other
products for recording musicians, producers and professional audio facilities.
Novation and Ampify products are used in the creation of electronic music,
from synthesizers and grooveboxes to industry-shaping controllers and
inspirational music-making apps. ADAM Audio studio monitors have earned a
worldwide reputation based on technological innovation in the field of studio
loudspeaker technology.  Martin Audio designs and manufactures
performance-ready systems across the spectrum of sound reinforcement
applications. Linea designs, develops, manufactures and sells innovative
professional audio equipment globally. Sequential designs and manufactures
high end analogue synthesizers under the Sequential and Oberheim brands.
Sonnox is a leading designer of innovative, high-quality, award-winning audio
processing software plug-ins for professional audio engineers. TiMax
specialises in innovative immersive audio and show control technologies.
OutBoard manufactures and sells industry standard rigging control products for
live events, together with enterprise-level safety test, preparation and
quality management for global rental companies and venues.

The Company has offices in four continents and a global customer base with a
distribution network covering approximately 240 territories.

Focusrite plc is traded on the AIM market, London Stock Exchange.

 

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